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Check out which companies are making headlines before the bell Friday:

KKR - The private equity firm is set to gain preferential negotiating rights for a majority stake in Panasonic's healthcare unit, according to sources familiar with the matter, which would be a $1.5 billion deal. It would mark the U.S. firm's largest investment in a Japanese company.

Timken - The company's board approved plans to split the firm's steel business from its bearings and power transmission businesses into two publicly companies. In addition, KeyBanc raised its target price on the company to $70 from $66.

GlaxoSmithKline - Japan's Suntory Beverage & Food is in advanced talks to buy the Lucozade and Ribena brands from GlaxoSmithKline for more than 1 billion pounds ($1.6 billion), according to sources familiar with the process. A deal could be announced in the next few days.

E-Trade - Goldman Sachs upgraded the financial services company to a "buy" from "neutral."

Yelp - Deutsche Bank initiated coverage of the consumer review website with a "buy" rating and a price target of $81.

—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

Questions? Comments? Email us at marketinsider@cnbc.com

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • Sharon Epperson

    CNBC's Senior Personal Finance Correspondent

  • JeeYeon Park

    JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli

    Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Peter Schacknow

    Senior Producer at CNBC's Breaking News Desk.